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Looking to buy a condo insurance policy? Want to get the best rate with a top company? Here's how ... Why do I Need Condo Insurance Coverage? Many people think their condominium's master policy covers them. Fact is, it only covers the condominium structure, common property, and the association against liability lawsuits. Most master policies cover everything up to the exterior of the building. You are responsible for your interior walls and your personal property. Before you purchase condominium insurance you should find out what your condo association's policy covers, then get insurance to cover what's not. Typical condo insurance coverage includes: * Personal property coverage - This pays to replace your personal possessions - clothing, furniture, appliance, electronics, etc. - after they've been damaged. To determine how much personal property coverage you need, take an inventory of everything you own and use the total value as the amount of insurance coverage. * Personal liability coverage - This pays for an injured person's medical expenses and property damage repairs when you're found to be at fault. It also covers your court costs and legal fees. You should have enough liability coverage to protect your assets in the event you're sued. * Loss assessment coverage - If your association does not have enough money to pay for damage to your building, you may have to kick in part of the cost. Check with your association to determine if you need this coverage. Where Can I Buy Cheap Condo Insurance? Condo insurance premiums can vary by hundreds of dollars from one company to the next for the same coverage. In order to insure you're getting the best rate, you need to get quotes from a number of different insurance companies and compare them. There are now insurance comparison websites where you can get insurance quotes from A-rated companies in the comfort of your condo. All you do is fill out a simple questionnaire with information about your condo and the type of insurance you want, then wait for your quotes. Once you have your quotes simply choose the best one. Some insurance comparison sites even have an online chat feature where you can talk with insurance experts and get answers to your questions (see link below.) Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get condo insurance quotes online from top-rated companies and see how much you can save. You can get more insurance tips in their Articles section. The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on getting condo insurance quotes online.
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